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The financial implications of Digital Asset Management (DAM)

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Since 1995 most companies have been investing in the creation of digital assets.
This includes corporate websites, landing pages, web-interfaced databases, e-commerce sites, mobile apps, display advertising, web-content, social media content etc. It can take the form of images, illustrations, charts, graphs, words, music, video, etc.
It meets the definition of an asset 
“An item of property owned by a person or company, regarded as having value and available to meet debts, commitments, or legacies”.
It also qualifies as Capital Expenditure or CapEx,
“Are funds used by a company to acquire or upgrade physical assets such as property, industrial buildings or equipment. It is often used to undertake new projects or investments by the firm. This type of outlay is also made by companies to maintain or increase the scope of their operations”.
However few have managed their digital asset investment to maximise their ROI. The purpose of digital asset management is to increase the value.

As a business asset it requires management: Ask yourself:
Where do these assets reside?
Who has control of these assets?
How are these assets being used?
What is your assets depreciation schedule?

The presentation includes Case Studies on:
− Digital Asset Audit
− CMS Selection
− External Supplier Alignment

Each case study includes:
• Issue of Problem Identified
• The customised TrinityP3 Solution
• The Process / Methodology applied
• Outcome / Result delivered
• The project Cost and ROI

Plus a Digital Asset Management Self-Assessment Quiz

Published in: Business
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The financial implications of Digital Asset Management (DAM)

  1. 1. marketing management consultants Managing digital marketing assets for brands and business Prepared by TrinityP3 February 2016 Commercial in Confidence
  2. 2. marketing management consultants What are digital marketing assets? •  Since 1995 most companies have been investing in the creation of digital assets. •  This includes corporate websites, landing pages, web-interfaced databases, e-commerce sites, mobile apps, display advertising, web- content, social media content etc •  It can take the form of images, illustrations, charts, graphs, words, music, video, etc. •  It meets the definition of an asset “An item of property owned by a person or company, regarded as having value and available to meet debts, commitments, or legacies”. •  It also qualifies as Capital Expenditure or CapEx, “Are funds used by a company to acquire or upgrade physical assets such as property, industrial buildings or equipment. It is often used to undertake new projects or investments by the firm. This type of outlay is also made by companies to maintain or increase the scope of their operations”. •  However few have managed their digital asset investment to maximise their ROI. •  The purpose of digital asset management is to increase the value.
  3. 3. marketing management consultants As a business asset it requires management Calculate the many hundreds-of-thousands or millions of dollars you may have invested in digital assets, through either your marketing or A&P budget. Yet this investment could be at risk, underutilised or wasted. Where do these assets reside? •  Often they are housed within the server environment (Cloud or Hardware) of the company, or a Content Management System (CMS) though we have found company assets scattered all over the internet and the world. The first step to asset management is to identify their location and ensure it is in secure and controlled environment. Who has control of these assets? •  Initially most companies outsourced creation and management of their assets and often these third parties continue to control these assets. Some companies lock up their assets to protect them and do not control the use of the asset and thereby do not utilise their value. How are these assets being used? •  Digital assets have the ability to be repurposed and used across multiple platforms and media channels. But how do you control the use of these assets and ensure they are not misused or abused. What is your assets depreciation schedule? •  Unfortunately the creation of these assets have been classified as a marketing cost rather then a CapEx investment and therefore opportunities to depreciate these assets have been overlooked.
  4. 4. marketing management consultants The important process of digital asset recovery There are three important ways TrinityP3 Marketing Management Consultants has assisted our clients with digital asset recovery: 1. Digital Asset Audit •  We define the scope of the assets and undertake an online and actual audit of the current asset location, recoverability and value. •  This identifies the upside opportunity cost of the recovery process. 2. Selection of a Digital Asset Management (DAM) or a Content Management System (CMS) •  We undertake an enterprise wide requirements assessment of the current digital management system and the current and future requirements of such a system. •  We assess the requirements against the solutions available and provide a report and recommendation on those systems best suited to the organisations needs. •  We can then assist in appointing suitable suppliers for the implementation and asset recovery and management process if required. 3. Organisations and Supplier Alignment to Digital Asset Creation, Management and Recovery •  We provide workshops to align the various stakeholder, internal and external to the roles and responsibilities as part of the asset creation, management and recovery process.
  5. 5. marketing management consultants Case Study 1 – Digital Asset Audit Client Category: Consumer Goods Company Issue / Problem: The company had outsourced the development of all of their web-assets as a standard practice and often the developers had continued to host and manage the sites once going live. Yet there was no central record of what assets existed or where they were housed or who controlled or owned the domains. The issue arose when one of the sites was hacked and the company was unable to respond immediately to resolve the issue. TrinityP3 Solution: TrinityP3 consultants immediately undertook a full audit of the company and brand domains, both official and unofficial, including an assessment of the server environment, the platform, the traffic and the usage. Process / Methodology: The audit identified more than 120 sites on the internet, mostly promotional landing pages and the like. More then 30% had no traffic in the past 3 months and had no updates to the sites for more then 12 months. All of the sites, other than the main corporate site, where being hosted on server environments outside the company control. In one case the site had 4 DNS redirects to the actual hosting server. Outcome / Result: The audit led to a rationalisation of the sites down to 12 and these sites were migrated to the company hosting environment and within the companies new Content Management System (CMS). Many of the sites closed were unrecoverable as the development platform was either no longer supported or the assets within the sites were not worthy of the cost of migration. Cost / ROI: The cost of the project was recovered in the elimination of the on-going hosting fees the company had been paying
  6. 6. marketing management consultants Case Study 2 – CMS Selection Client Category: Consumer Goods Company Issue / Problem: The company had undertaken a review of their digital strategy and it had become apparent that they required a more unified approach for their digital marketing to move forward across the ANZ and APAC region. TrinityP3 Solution: In consultation with Marketing, we defined the wider enterprise stakeholders, and with the CIO undertook a scoping exercise across the organisation to define the current and future requirements. Process / Methodology: A combination of stakeholder interviews and financial modelling was used to determine the system requirements across marketing, sales, corporate affairs, finance and Information Technology. This included the creation, management and sharing of web and mobile content and social media monitoring and marketing. These requirements were consolidated into a report that proposed the way forward the the selection and implementation of a enterprise wide Content Management System (CMS), including a Digital Asset Management hub (DAM). Outcome / Result: On enterprise agreement of the requirements, we were able to provide an independent market assessment of the best suited CMS platforms along with a recommendation that was accepted by the team. Cost / ROI: This was a significant CapEx investment that had the buy-in from across the organisation and provided a relatively smooth transition and uptake of the system.
  7. 7. marketing management consultants Case Study 3 – External Supplier Alignment Client Category: Consumer Goods Company Issue of Problem: While the company had implemented a global Content Management System, the local market arrangements meant that there were more than 24 external suppliers accessing the system and yet none were mandated with managing the process, made more difficult on the basis that the IT team for the process was US based. TrinityP3 Solution: We undertook a rationalisation of the number of external suppliers current creating and deploying digital assets for the company and devised and lead a project to rationalise local management for the CMS to one supplier. Process / Methodology: A cross functional team from marketing, procurement and the local IT co-ordinator collectively reviewed the current roster of external suppliers against capabilities and needs to identify the supplier with the broadest range of technology skill sets to facilitate the digital requirements of marketing and co-ordinate and provide compliance for procurement and the Global IT team. Outcome / Result: The process resulted in a significant reduction in the number of suppliers, reducing risk and improving compliance on a local market level to the global guidelines. The reduction also significantly reduce the overall digital marketing cost for the creation of these digital assets and their management. But most importantly it allowed the recovery of many of the web-assets that had existed outside of the CMS platform. Cost / ROI: Beyond the risk mitigation, the reduction in management cost and the reduction in the external suppler costs delivered an ROI on the project costs of more than 25:1.
  8. 8. marketing management consultants Digital Asset Self-Assessment Q1. Have you investment more than $500,000 in website development, e- commerce, digital advertising production and mobile application in the past 3 years? Yes / No / Don’t Know Q2. Do you have a centralised or enterprise content management system platform or a Digital Asset Management system that you control and manage yourself? Yes / No / Don’t Know Q3. Are you able to utilise your existing digital assets easily without having the expense of costly production duplication? Yes / No / Don’t Know Q4. Do all internal stakeholder and the relevant external stakeholders have access to this CMS or DAM in a controlled manner? Yes / No / Don’t Know Q5. Are you accounting for these costs as CapEx asset creation, maintenance and recovery? Yes / No / Don’t Know
  9. 9. marketing management consultants To get the answers you need contact: TrinityP3 Pty Ltd Sydney +612 9964 9900 Melbourne +613 9682 6800 Hong Kong +852 3478 3982 Singapore +65 6631 2861 people@trinityp3.com www.trinityp3.com Trinityp3.com/blog/ @TrinityP3 TrinityP3 TrinityP3.StrategicMarketingConsultants

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